IREN stock surges as Nvidia backs AI expansion with warrants tied to 30 million shares
IREN and Nvidia partnered to deploy 5 GW of AI infrastructure, with Nvidia receiving warrants for 30 million IREN shares.Summary
IREN Limited, a company transitioning from Bitcoin mining to AI infrastructure, has announced a strategic partnership with Nvidia to accelerate the deployment of advanced AI data centers. The collaboration aims to support up to 5 gigawatts of NVIDIA DSX-aligned AI infrastructure across IREN's global data center network. As part of the deal, Nvidia has been granted warrants to purchase up to 30 million IREN shares at $70 each over five years, representing a potential $2.1 billion equity stake. This partnership is expected to facilitate the deployment of NVIDIA accelerated compute in "AI factories" to broaden access for AI-native startups and enterprise clients. IREN's co-CEO, Daniel Roberts, highlighted the synergy between Nvidia's AI systems and IREN's expertise in infrastructure, power, and operations. The companies plan to focus future deployments on IREN's 2 GW Sweetwater campus in Texas. This development follows IREN's recent $625 million all-stock acquisition of cloud infrastructure software firm Mirantis to enhance its AI cloud platform. The news has led to a significant surge in IREN's stock price.
(Source：The Block)